Statisense, a major data company based in Nigeria, has just announced the introduction of their artificial intelligence platform, which is intended to empower businesses all around Africa.
StatiSense is a data consulting organisation that was established in 2012 with the goal of providing data services to a variety of clients, including people, businesses, governments, and members of civil society.
With more than 500 million impressions made across digital platforms to date and a subscription base that exceeds 150,000, Statisense has established itself as the leading data visualisation firm in Nigeria. Its data-sharing service is utilised by a wide variety of parties, including consumers, corporate leaders, industry titans, and governmental organisations, amongst others.
In response to the increasing demand for AI-driven analytics, Statisense is evolving into an AI platform for businesses, complete with open application programming interfaces (APIs) for developers. This goes beyond data sharing and visualisation.
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The impact of Statisense
According to Rihannat Amoo, Head of Products, the transition represents a recognition of an opportunity to create breakthrough solutions for daily businesses that go beyond data collecting and visualisation. According to him, the company is of the opinion that tailor-made AI technologies are what would end up rewriting the playbook for businesses all over Africa.
One of the most significant problems facing Africa is that the continent is unable to arrange and communicate its data in a manner that enables businesses, governments, and customers to make snap choices. The new artificial intelligence solution that Statisense is developing will focus on problems that arise in a variety of industries, including banking, insurance, identity detection, financial market insights, document analysis, and more.
Despite the fact that the company is shifting its focus to AI, the co-founder of Statisense, Femi Bejide, indicated that the company is still committed to continuing its freemium macroeconomic insights offering through its social platforms.
He said: “It is what brought us to this point in the first place, and our upgraded AI platform will only help users receive more of our data service.”
Jude Francis, CTO of Statisense, added, “We are providing a platform that helps convert any dataset into conversation, industry grade reports, and instant infographics For example, in one of our many use cases, we have trained our model to be able to make sense of financial reports and generate insights from them the way a Big Four consultant would, all within a few seconds.”
Statisense will provide services such as borrower insights, market research for trading and decision making, invoice and payment insights, credit modelling, portfolio insights, and other similar services in addition to concentrating on a certain specialist area.
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The importance of a data consulting firm—like Statisense
Because the analysis of data plays such a significant part in deciding the success of today’s organisations, selecting the appropriate data consulting service ought to be one of your highest priorities.
If you already have a data strategy in place, a competent data consulting firm should be able to identify your data sources and evaluate them. The next step is for them to collaborate closely with your team in order to establish a plan for constructing or updating your data strategy.
The findings of a poll that was carried out by MIT Technology Review and Databricks the previous year on 351 senior technology executives revealed that improving data analytics by the year 2023 is a primary objective for 43% of businesses. At the same time, companies that are already making use of data consultation services are experiencing a return on their investment in the shape of expansion of their operations as well as a rise in their levels of profitability.